8407 Cedros Ave
Panorama City, CA 91402
2 Beds16 Baths7,188 Sq Ft466 Days on Market
For Sale $2,700,000
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Courtesy of Marcus & Millichap
Listing Agent & Comments
Roderick 'Rick' Raymundo • Marcus & Millichap
213-943-1855 • Rick.Raymundo@MarcusMillichap.com License #01357019Set to benefit immensely from its position in the path of development, the property sits only one block from the planned 4.5 million square foot mixed-use development slated for the site of the existing Panorama Mall. Included in the proposal are 125,000 square feet of retail space, 70,000 square feet of restaurant space, 90,000 square feet of entertainment space, and 146,000 square feet of open space. That project intends to capitalize on the upcoming East San Fernando Valley Light Rail Line, which will include a Metro stop just two blocks from 8407 Cedros Avenue. Perhaps the most noteworthy development project currently in the San Fernando Valley, the light rail line will connect the Metro Orange Line, the Metrolink Train Line in Van Nuys, and the Metrolink Train Line in Sylmar/San Fernando. The majority of the new transit line will run along the median of Van Nuys Boulevard, with a station planned just two blocks from 8407 Cedros Avenue. In addition to boosting commerce in the immediate area, it will also provide the benefit of more convenient transportation for the property's tenants. With current rents approximately 42% below market rates, a new owner can capitalize on this rent upside to create increasing cash flow even before the neighborhood improves with the pending development projects. The building already features full copper plumbing, allowing an investor to enter the Los Angeles market at an attractively low $168,750 per unit with reduced maintenance costs. The existing loan may be assumable, allowing an investor to benefit from the low 3.14% interest rate as well. An additional revenue stream is provided by the on-site laundry facilities.
Listing Broker Offer of Compensation is 2.25%.*
MLS# 23239475 • Data provided by CRMLS
*This offer of compensation is only eligible for participants of the MLS where the listing was filed.
Living Area | 7,188 Sq.Ft. |
---|---|
Lot Size | 7,545 Sq.Ft. |
Total Rooms | -- |
Bedrooms | 2 |
Bathrooms | 16 |
Stories | 2 |
Year Built | 1964 |
Property Type | Multi Family |
Zoning | LAR4 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2023 |
Tax Amount | $20,079 |
Property in Flood Zone | -- |
Data provided by CRMLS.
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HouseCanary, Inc. Brokerage
8407 Cedros Ave., Panorama City, CA 91402
Multi Family2 Beds16 Baths7,188 Sq Ft466 Days on Market
Listing Agent & Comments
Roderick 'Rick' Raymundo • Marcus & Millichap
213-943-1855 • Rick.Raymundo@MarcusMillichap.com License #01357019Set to benefit immensely from its position in the path of development, the property sits only one block from the planned 4.5 million square foot mixed-use development slated for the site of the existing Panorama Mall. Included in the proposal are 125,000 square feet of retail space, 70,000 square feet of restaurant space, 90,000 square feet of entertainment space, and 146,000 square feet of open space. That project intends to capitalize on the upcoming East San Fernando Valley Light Rail Line, which will include a Metro stop just two blocks from 8407 Cedros Avenue. Perhaps the most noteworthy development project currently in the San Fernando Valley, the light rail line will connect the Metro Orange Line, the Metrolink Train Line in Van Nuys, and the Metrolink Train Line in Sylmar/San Fernando. The majority of the new transit line will run along the median of Van Nuys Boulevard, with a station planned just two blocks from 8407 Cedros Avenue. In addition to boosting commerce in the immediate area, it will also provide the benefit of more convenient transportation for the property's tenants. With current rents approximately 42% below market rates, a new owner can capitalize on this rent upside to create increasing cash flow even before the neighborhood improves with the pending development projects. The building already features full copper plumbing, allowing an investor to enter the Los Angeles market at an attractively low $168,750 per unit with reduced maintenance costs. The existing loan may be assumable, allowing an investor to benefit from the low 3.14% interest rate as well. An additional revenue stream is provided by the on-site laundry facilities.
Listing Broker Offer of Compensation is 2.25%.*
MLS# 23239475 • Data provided by CRMLS
*This offer of compensation is only eligible for participants of the MLS where the listing was filed.
Living Area | 7,188 Sq.Ft. |
---|---|
Lot Size | 7,545 Sq.Ft. |
Total Rooms | -- |
Bedrooms | 2 |
Bathrooms | 16 |
Stories | 2 |
Year Built | 1964 |
Property Type | Multi Family |
Zoning | LAR4 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2023 |
Tax Amount | $20,079 |
Property in Flood Zone | -- |
Data provided by CRMLS.
We’ll connect you with top agents in your area.
This property is missing data for:
Comparable properties, forecast, and rental estimate
New
Do you own this home?
Access your homeowner dashboard
For Sale $2,700,000
Request tour
Save
Courtesy of Marcus & Millichap
8407 Cedros Ave
Panorama City, CA 91402
2 Beds16 Baths7,188 Sq Ft466 Days on Market
Listing Agent & Comments
Roderick 'Rick' Raymundo • Marcus & Millichap
213-943-1855 • Rick.Raymundo@MarcusMillichap.com License #01357019Set to benefit immensely from its position in the path of development, the property sits only one block from the planned 4.5 million square foot mixed-use development slated for the site of the existing Panorama Mall. Included in the proposal are 125,000 square feet of retail space, 70,000 square feet of restaurant space, 90,000 square feet of entertainment space, and 146,000 square feet of open space. That project intends to capitalize on the upcoming East San Fernando Valley Light Rail Line, which will include a Metro stop just two blocks from 8407 Cedros Avenue. Perhaps the most noteworthy development project currently in the San Fernando Valley, the light rail line will connect the Metro Orange Line, the Metrolink Train Line in Van Nuys, and the Metrolink Train Line in Sylmar/San Fernando. The majority of the new transit line will run along the median of Van Nuys Boulevard, with a station planned just two blocks from 8407 Cedros Avenue. In addition to boosting commerce in the immediate area, it will also provide the benefit of more convenient transportation for the property's tenants. With current rents approximately 42% below market rates, a new owner can capitalize on this rent upside to create increasing cash flow even before the neighborhood improves with the pending development projects. The building already features full copper plumbing, allowing an investor to enter the Los Angeles market at an attractively low $168,750 per unit with reduced maintenance costs. The existing loan may be assumable, allowing an investor to benefit from the low 3.14% interest rate as well. An additional revenue stream is provided by the on-site laundry facilities.
Listing Broker Offer of Compensation is 2.25%.*
MLS# 23239475 • Data provided by CRMLS
*This offer of compensation is only eligible for participants of the MLS where the listing was filed.
Living Area | 7,188 Sq.Ft. |
---|---|
Lot Size | 7,545 Sq.Ft. |
Total Rooms | -- |
Bedrooms | 2 |
Bathrooms | 16 |
Stories | 2 |
Year Built | 1964 |
Property Type | Multi Family |
Zoning | LAR4 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2023 |
Tax Amount | $20,079 |
Property in Flood Zone | -- |
Data provided by CRMLS.
We’ll connect you with top agents in your area.
This property is missing data for:
Comparable properties, forecast, and rental estimate
New
Do you own this home?
Access your homeowner dashboard
For Sale $2,700,000
Request tour
Save
Courtesy of Marcus & Millichap